Realcomp II: Area Home Prices, Sales Fall

The real estate funk continued in southeast Michigan in March, according to figures released Monday by the Farmington Hills-based real estate information provider Realcomp II Ltd.

The exceptions: Macomb County saw a slight uptick in sales, and the city of Detroit saw a rise in its median home sale price.

The number of houses for sale in the area continues to decline, to 32,317 in March compared to 38,420 in March 2010.

And the average number of days a house spent on the market before selling continued to decline, to 97 days, from 102 a year ago.

By individual submarket, the sales results were as follows:

City of Detroit: 421 foreclosure sales, down 30.2 percent from 603 a year earlier; 228 non-foreclosure sales, up 13.4 percent from 201 a year earlier; median sale price on foreclosure sales, $7,460, up 13.8 percent from $6,553 a year earlier; median sale price on non-foreclosure sales, $12,000, down 20 percent from $15,000 a year earlier.

Genesee County: 196 foreclosure sales, up 172.2 percent from 72 a year earlier; 184 non-foreclosure sales, down 57 percent from 428 a year earlier; median sale price on foreclosure sales, $26,558, down 58.7 percent from $64,330 a year earlier; median sale price on non-foreclosure sales, $61,350, up 26.8 percent from $48,380 a year earlier.

Huron County: one foreclosure sale, up from none a year earlier; six non-foreclosure sales, up 50 percent from four a year earlier; median sale price on foreclosure sales, $69,000; median sale price on non-foreclosure sales, $67,250, down 7.9 percent from $73,000 a year earlier.

Lapeer County: 49 foreclosure sales, up 25.6 percent from 39 a year earlier; 24 non-foreclosure sales, down 45.5 percent from 44 a year earlier; median sale price on foreclosure sales, $76,217, up marginally from $76,214 a year earlier; median sale price on non-foreclosure sales, $92,500, down 26.7 percent from $126,250 a year earlier.

Livingston County: 87 foreclosure sales, down 11.2 percent from 98 a year earlier; 111 non-foreclosure sales, down 9.8 percent from 123 a year earlier; median sale price on foreclosure sales, $90,000, down 22 percent from $115,450 a year earlier; median sale price on non-foreclosure sales, $163,000, down 1.2 percent from $165,000 a year earlier.

Macomb County: 432 foreclosure sales, up 8 percnet from 400 a year earlier; 480 non-foreclosure sales, up 5 percent from 457 a year earlier; median sale price on foreclosure sales, $41,000, down 25.4 percent from $54,950 a year earlier; median sale price on non-foreclosure sales, $84,750, down 14.4 percent from $99,000 a year earlier.

Oakland County: 613 foreclosure sales, down 4.2 percnet from 640 a year earlier; 803 non-foreclosure sales, down 8.2 percnet from 875 a year earlier; median sale price on foreclsoure sales, $59,000, down 7.8 percent from $64,000 a year earlier; median sale price on non-foreclosure sales, $140,000, down 1.4 percent from $142,000 a year earlier.

Sanilac County: five foreclosure sales, down 16.7 percent from six a year earlier; two non-foreclosure sales, down 80 percent from 10 a year earlier; median sale price on foreclosure sales, $32,000, up 73.4 percen from $18,450 a year earlier; median sale price on non-foreclosure sales, $55,000, up 16.5 percent from $47,200 a year earlier.

St. Clair County: 29 foreclosure sales, down 31 percent from 42 a year earlier; 47 non-foreclosure sales, up 14.6 percent from 41 a year earlier. Median sale price on foreclosure sales, $47,000, down 15.9 percent from $55,875 a year earlier; median sale price on non-foreclosure sales, $95,000, down 20.8 percent from $120,000 a year earlier.

Tuscola County: Eight foreclosure sales, down 20 percnet from 10 a year earlier; four non-foreclosure sales, down 82.6 percent from 23 a year earlier; median sale price on foreclosure sales, $32,827, up 33.7 percent from $24,550 a year earlier; median sale price on non-foreclosure sales, $40,900, down 27.7 percent from $56,600 a year earlier.

Wayne County, excluding Detroit: 499 foreclosure sales, down 12.8 percnet from 687 a year earlier; 661 non-foreclosure sales, down 3.4 percent from 684 a year earlier; median sale price on foreclosure sales, $33,010, down 15.4 percnet from $39,000 a year earlier; median sale price on non-foreclosure sales, $73,000, down 17.5 percent from $88,500 a year earlier.